How to plan as a small scale business owner: Psychological process characteristics of action strategies and success

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A theoretical analysis of individual-level planning and action strategies used by small business owners/managers distinguishes five different strategic approaches: Complete (top-down) Planning, Critical Point, Opportunistic, Reactive, and Routine/Habit. Research on 80 owners of small start-up firms in the Netherlands showed that, as hypothesized, a Reactive Strategy was negatively related to firm success, while a Critical Point Strategy was positively related. The combination of Critical Point and Opportunistic strategies appeared most successful and the combination of Opportunistic and Reactive was found to be least successful.

Original languageEnglish
JournalJournal of Small Business Management
Issue number2
Pages (from-to)1-18
Number of pages18
Publication statusPublished - 04.2000
Externally publishedYes